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Statistical Determination of Impact of Property Attributes for Weak Measurement Scales

Author

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  • Doszyń Mariusz

    (Faculty of Economics and Management, University of Szczecin)

Abstract

Many of the property attributes are measured on weak scales (nominal and ordinal scale). For example, land allocation in the development plan is measured on a nominal scale and such categories as proximity, equipment, access to means of communication, location, and soil and water conditions, are measured on an ordinal scale. The use of statistical measures appropriate for interval or quotient scales is wrong in such cases. Therefore, the article presents statistical measures that allow specifying the impact of the attributes on real estate prices, which can be used for the weaker scales, mainly for the ordinal scale. In the empirical illustration the proposed measures will be calculated by using the actual database of transaction prices.

Suggested Citation

  • Doszyń Mariusz, 2017. "Statistical Determination of Impact of Property Attributes for Weak Measurement Scales," Real Estate Management and Valuation, Sciendo, vol. 25(4), pages 75-84, December.
    • Handle: RePEc:vrs:remava:v:25:y:2017:i:4:p:75-84:n:7
    DOI: 10.1515/remav-2017-0031
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    More about this item

    Keywords

    impact of the real estate attributes; Spearman coefficient; Kendall's tau-b coefficient;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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